On Friday, the European Single Currency was trading between the 55-hour and the 100-hour simple moving average at the 1,1340 mark.

In regards to the near-term future, most likely, the 100-hour simple moving average will support the rate to push it to the 1,1360 level.

On the other hand, the resistance level of the weekly R1 at 1,1345 could resist the currency exchange rate to pass through the SMAs to the 1,1300 level.

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